If a client wants to provide a professional service in the UAE, (and not necessarily supply a product), then it is possible to apply for what is known as a “Professional License”. This involves an application to the Dubai Economic Department, and the issuance of a license in the name of an individual who must hold a relevant professional qualification (originals of which must be notarized and presented to the local authorities). A UAE national must still be appointed as a “Service Agent” whose role is to facilitate visa applications and other administrative issues.
The Service Agent is not a shareholder in the company (which differs from their role in an “LLC”), and the shareholding of the entity can be 100% foreign. Normally the local Service Agent will be paid an agreed lump sum which is subject to negotiation but will be a minimum of US$ 7,500 per annum and may be considerably larger depending on the “standing” of the local involved. Again, further detailed information can be provided upon request.
Many entrepreneurs face complexities in the incorporation of a company in Dubai. It involves a tedious procedure and there are certain restrictions to it. But consulting the best service companies can ease your business setup and provide you with the necessary services.
If you are planning to set up your business in Dubai, MSZ Consultancy will help you build your dream business. MSZ Consultancy provides LLC company formation and related-setup services in Dubai and across UAE to get your business up and running. Our team of experts will offer you complete solutions for setting up a company in Dubai. Get in touch with us today!